My wife and I may need to sub-let our Drybrook ground floor flat for a while due to a new job. We instructed a Drybrook conveyancing practice in 2001 but they have since shut and we did not have the foresight to get any advice as to whether the lease permits subletting. How do we find out?

Notwithstanding that your previous Drybrook conveyancing lawyer is not around you can review your lease to check if you are permitted to let out the property. The rule is that if the deeds are silent, subletting is permitted. Quite often there is a prerequisite that you need to obtain consent from your landlord or some other party before subletting. The net result is you not allowed to sublet without prior consent. Such consent is not allowed to be unreasonably withheld. If the lease prohibits you from subletting the property you should ask your landlord for their consent.

I have just appointed agents to market my basement flat in Drybrook.Conveyancing has not commenced but I have just had a yearly service charge demand – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should pay the invoice as normal because all ground rent and service charges will be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.

I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Drybrook. Conveyancing advisers have are soon to be appointed. Will they explain the issues?

Most houses in Drybrook are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Drybrook in which case you should be looking for a Drybrook conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as requiring the landlord’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will appraise you on the various issues.

I am looking at a couple of flats in Drybrook which have about fifty years left on the leases. should I be concerned?

There are no two ways about it. A leasehold flat in Drybrook is a wasting asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it adversely affects the marketability of the property. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Drybrook conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

What are the common deficiencies that you encounter in leases for Drybrook properties?

Leasehold conveyancing in Drybrook is not unique. Most leases are unique and drafting errors can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:

• A provision to repair to or maintain elements of the premises
• Insurance obligations
• Clauses dealing with recovering service charges for expenditure on the building or common parts.
• Maintenance charge proportions which don’t add up to the correct percentage

You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, The Royal Bank of Scotland, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to withdraw.

Drybrook Leasehold Conveyancing - A selection of Queries Prior to Purchasing

It would be prudent to investigate if the the lease contains any unreasonable restrictions in the lease. For instance some leases prohibit pets being permitted in in a block in Drybrook. If you love the flatin Drybrook however your dog is not allowed to move with you then you have a very difficult compromise. Who are the managing agents? This question is helpful as a) areas could cause problems for the building as the common areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have full disclosure

Other Topics

Lease Extensions in Drybrook